Most people reaching state pension age today are receiving less
than the new state pension.
A Freedom of Information (FoI) request from the Sunday Times
revealed an interesting fact about the new state pension, which
started life just over a year ago on 6 April 2016. The newspaper
asked how many people who had reached state pension age (SPA) since
that date had received at least the new state pension (originally
£155.65 a week, now £159.55).
The response from the Department for Work and Pensions (DWP) was
that between 6 April 2016 and 31 August 2016 - so roughly in the
first five months - 41% of people reaching their SPA (65...Read More
Recently released figures show that UK dividends grew faster
than inflation in 2016.
The number crunchers at Capita Asset Services, one of the UK's
main share registrars, have been working out how much was paid out
in dividends by UK listed companies in 2016. The number they have
come up with is £84.7bn, an increase of 6.6% (£5.2bn) on the 2015
figure and well ahead of the rate of inflation.
Dig down into the data and some interesting facts emerge:
• Capita calculates that £4.8bn of that £5.2bn rise is due
to the impact of the weaker pound.
• Special dividends - one-off payments often associated with
mergers or asset sales -...Read More
National Savings and Investments (NS&I) has announced that
it will be cutting interest on four of its variable rate products
from 1 May. It says the cuts follow on from the Bank of England's
base rate cut to 0.25%, a reduction which occurred last August.
Clearly NS&I has been in no rush to react.
The changes will leave Income Bonds and the Direct ISA both paying
0.75% interest, well below the latest (January) 2.6% rate of RPI
inflation. The cuts will once again remove NS&I from the top
rungs of the league tables where, unusually, they have been for
some months. By shaving 0.25% off its current rates on these two
products, NS&...Read More